Kathmandu. American life insurance company MetLife has released the revised financial statements for the third quarter of the current fiscal year (July-April).
According to the financial statement, the company has earned a profit of Rs 345.1 million till the third quarter. The company had posted a net profit of Rs 270 million in the same period of the previous fiscal year. The company’s profit increased by 27.61 percent in the review period compared to the previous fiscal year.
As of Mid-April of the current fiscal year, the company has rs 562.3 million in disaster fund, Rs 2.52 billion in retained earnings and Rs 1.13 billion in other equities. As of Mid-July last year, the disaster fund stood at Rs 527.6 million, retained earnings at Rs 2.56 billion and other equities at Rs 1.07 billion.
As of the review period, the company’s life insurance fund stood at Rs 28.39 billion. The life insurance fund stood at Rs 25.07 billion in the same period last year. The size of the company’s life insurance fund increased by 13.26 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 4.44 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 4.13 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 7.52 percent.
The company has earned a net insurance premium of Rs 4.26 billion during the review period. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 3.97 billion. The company’s net insurance revenue has increased by 7.27 percent compared to the previous year.
The company’s annualised earnings per share (EPS) declined to Rs 8.98 billion from Rs 5.01 billion. Last year, the EPS was Rs 9.71. The company has a net worth of Rs 110.60 per share with a PE ratio of 46.03 times.
